PV segment reports healthy volumes for September 2022
For September 2022, Maruti Suzuki (MSIL) sales volume grew 7.4% MoM at 1.74 lakh units. Tata Motors volumes were flat MoM at 47,864 units. M&M's volumes are still awaited.
Numbers for the month came in par with our expectations. Segment mix at MSIL improved in favour of UV sales, which registered 20.9% MoM growth amid new launches. At Tata Motors, EV volumes were down 4.9% MoM at 3,655 units. Going forward, we expect volumes in the PV space to further improve amid healthy order book across OEMs.
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